Killa: Long term Bitcoin holders' loss supply approaches 2018 bear market level

Killa stated that the supply of long-term holders currently in a loss making state has exceeded the level during the FTX storm and is approaching the bear market level of 2018. The realized price of Bitcoin is currently around $50000. In each cycle of the past, the price has been tested against the realized price of long-term holders, and there is a possibility of returning to this region. However, the market should not assume that Bitcoin will definitely fall back to this level. Killa pointed out that many top indicators failed to trigger in the previous cycle, and some bottom indicators may also fail in the future. The market should not mechanically rely on historical signals to judge the bottom.